Everything Coworking Featured Resources:
Masterclass: 3 Behind-the-Scenes Secrets to Opening a Coworking Space
Creative Coworking Partnerships: How to negotiate and structure management agreements from the landlord and operator perspective
Examples mentioned in the podcast:
Management agreements are really attractive to coworking spaces, and with good reason. Mike Kriel, CEO of Launch Workplaces with locations in DC, Maryland, and Cleveland, shares his perspective on what’s new in management agreements in 2022.
Mike was last on the podcast in October 2019. Some things have not changed since then…and a lot of things have.
Mike does only management agreements and has done a lot of the. He comes from a deep commercial real estate background. He’s taken over some locations that were going to close in 2020 and has recently expanded from the Maryland/DC area to Ohio.
In this episode, Mike and I talk about
What’s not new in management agreements:
- Don’t do a deal just to do a deal – there are still consequences
- Partners matter
- Who does what (and who doesn’t do what)
- Who makes what / when
- How do we break up?
What is new?
1 – Buzzword
2 - Acceptance
3 – How to be a good partner (this is not a lease)
4 – You always remember your first (doing your first management agreement)
5 – New noise in between (consultants/brokers/etc.)